AutoGuide News Blog
The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
President Barack Obama announced a new $200 million tax credit for the development of alternative fuel technologies in a continued effort to reduce U.S. oil consumption.
Electric car maker Fisker Automotive is expanding its grip on worldwide sales by pushing its new Karma in Canada.
To bring the cars to the Canadian market with the smallest investment possible, Fisker partnered with existing retailers in Toronto, Calgary and Vancouver to market its car. In Toronto, a standalone store will be constructed in a well to do area of the city to try and push sales up in the Country’s largest market
Electric vehicle sales in Canada are also backed by the Canadian government as well as provincial governments, with Ontario, British Columbia and Quebec offering incentives up to $8,500 CAD on new electric vehicle purchases. Ontario residents also get the benefit of unrestricted access to high occupancy vehicle lanes for plug-in cars. The province of Quebec is offering to pay for half the cost of a charging station.
As Nissan strives to sell the Leaf electric car at an affordable price point, the company is expressing concerns that the current subsidies offered by governments to encourage EV adoption will expire after three years, hurting sales and pushing the cost of electric vehicles back into unattainable territory.
“My assumption is that they won’t be cut off but they might be pared back,” Nissan Vice-President Simon Thomas said. “There’s no obligation for governments to extend those programs beyond the definitive agreement — and in some countries we don’t have a definitive agreement.”
Nissan is struggling to keep the Leaf below 30,000 euros. The car will make its debut in Portugal and the Netherlands this December, because the two countries offer a 5,000 euro credit for electric vehicles. However, the company said in an interview with the Wall Street Journal that the cars would turn a profit, likely around the third year of production.
[Source: Business Week]